Do you know if you are a Baby Boomer? Generation Y? Generation X? A Millennial?
Who are these people, what are their tastes, criteria and what are they typically looking for when they go house-hunting?
The last of the Baby Boomers (those born from 1946-1964) will turn 50 in 2014. Research has shown that they want to show off their home that they worked so hard for. Their ideal home would have a state-of-the-art kitchen, areas to display their art collection, walk-in closets, whirlpool bath, a fireplace and a swimming pool. These are on their top priority list. They may be empty nesters but they want their nest to look darn good!
Generation X (Gen-Xers) born btw 1965 and 1975 approx. also known as the MTV generation, want similar amenities as their parents – a show-off kitchen, walk-in closets, stuff that speaks of organization – it’s all about the family now but with different attitudes about child-rearing from their parents. They are looking for a casual not a formal home. They know what they want in design and style and won’t compromise. They may be following the last generation in some ways but their approach towards many things, including their life style, are not expected to change even as they age.
Gen-Yers (Millenials) also known as Echo Boomers due to their increased birth rate (born after 1978 to 1995) want a place to have fun, to entertain and are not thinking of children and their needs yet. They want that whirlpool bath, that swimming pool, the entertainment center, game/billiard room and the sauna/steam room and, as they are the“techies”, they want a home that’s fully wired and reflects that enthusiasm and need. That’s not going to change in the future either.
Gone are the days when a yard and or a workshop was a priority – only 2 groups put it in the top ten, and porches and decks definitely took a back seat for the younger ones as well. Walk-in closets, state-of-the-art kitchens ranked first and second for the Baby Boomers and Gen X. In the top five for all age groups were the whirlpool bath, the swimming pool and fireplaces. We are not all that different but homeowners, when renovating or selling, would be wise to think of what audience they are targeting, and for a possible future sale. Don’t forget to put plenty of plugs in a neighborhood peopled by the younger generation! My thanks to GFK Roper Reports for much of this useful information.
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